Bualuang Reviews 12 Stocks' 2Q26 Results, No Earnings Misses

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Summary · why it matters

Bualuang Securities noted in its analysis today that 12 listed companies reported financial results, split into 6 companies with better-than-expected earnings: PTT, AOT, ERW, PLANB, GFPT, and AMATA, and 6 companies with in-line earnings: TOP, BEM, BGRIM, BDMS, TIDLOR, and OSP, with no company reporting earnings below expectations. PTT reported 2Q26 net profit of 52.5 billion baht, up 144% year on year and 104% quarter on quarter, beating analyst and market expectations, driven by better-than-expected gas business profits. AOT reported 3Q26 net profit of 4.44 billion baht, 6% above analyst expectations and 17% above market expectations, due to lower-than-expected staff expenses. ERW reported 2Q26 core profit of 72 million baht, up 16% year on year but down 81% quarter on quarter on seasonal factors, beating analyst expectations. GFPT reported 2Q26 core profit of 582 million baht, down 12% year on year but up 20% quarter on quarter, beating analyst and market expectations on better-than-expected gross margin. PLANB reported 2Q26 core profit of 297 million baht, up 10% year on year but down 43% quarter on quarter, 4 to 6 percent above analyst and market expectations on better-than-expected gross margin. AMATA reported 2Q26 net profit of 1.58 billion baht, up 1,032% year on year and 15% quarter on quarter, 13% above analyst expectations and 16% above market expectations, and announced an interim dividend of 0.60 baht per share. For the in-line earnings group, TOP reported 2Q26 core profit of 16 billion baht, up 378% year on year and 74% quarter on quarter, in line with analyst expectations but 11% above market expectations, driven by higher refining margins and lube base margins. BGRIM reported 2Q26 core profit of 478 million baht, up 1% year on year but down 6% quarter on quarter, in line with analyst and market expectations, and announced an interim dividend of 0.18 baht per share. BEM reported 2Q26 core profit of 1.01 billion baht, up 2% year on year and 16% quarter on quarter, in line with analyst and market expectations. BDMS reported 2Q26 core profit of 3.25 billion baht, down 7% year on year and 20% quarter on quarter, in line with analyst expectations but 7% below market expectations. TIDLOR reported 2Q26 net profit of 1.53 billion baht, up 18% year on year but down 5% quarter on quarter, in line with analyst and market expectations. OSP reported 2Q26 core profit of 1.10 billion baht, up 9% year on year but down 5% quarter on quarter, in line with analyst and market expectations. AAV reported a 2Q26 net loss of 2.33 billion baht, swinging from a net profit both year on year and quarter on quarter, with results in line with analyst expectations but the loss 17% smaller than market expectations.

Impact on assets 13

Industrials▲ · 3 stocks
Airports Of Thailand PCL
AOT
▲ PositiveCapitalrelevance

3Q26 net profit 6% above analyst and 17% above market expectations due to lower staff expenses.

Energy Transition & Power Demand▲ · 3 stocks
Consumer Staples▲ · 2 stocks
Aging Population▲ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Communication Services▲ · 1 stocks
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

2Q26 core profit beat analyst and market expectations on better gross margin.

Financials▲ · 1 stocks
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